IOTA: Why the new PoWbox is great

The full article was originally published by Chris Mueller on Medium. Read the full article here.

Today the IOTA Foundation published great news:

So is this the new wallet? NO!

Is this a big partnership? NO!

Is it Q? NO!

But still it is a very important addition to the IOTA project:

As you may know, before sending a transaction in IOTA, two other transactions must be “checked” if they are valid. This “check” is done via computational power which in turn is called Proof-of-Work (PoW; you may read my article on the technical background with regard to IOTA’s being quantum proof here).

Now here is the kicker: If you are a developer and you want to try out your latest lines of code by sending transactions through the network, it takes — depending on your machine — quite a lot if time, because you might have to wait for the confirmation of A LOT OF transactions: this is why finding bugs in the code can be a really time-consuming endeavor.

The PoWbox is a great help here.

With it, developers can now “outsource” computational power:

The PoWbox now leverages Kubernetes autoscaling across our dedicated GPU farm and a separate cloud provider. PoW should take less than a second in most cases — about one-tenth of a second at MWM=9. (click)

This means, that the PoW is not done on the developer’s local machine but on a separate remote server farm which does the computation in a fraction of the time.

So developers not only save a lot of time, but is also made in such a fashion that you can implement it easily into your projects. As you might guess now, this will help develop great new projects using IOTA technology a lot faster than so far.

The IOTA Foundation wants to help people implement its technology in order to bring new ideas to life — everyone who would like to contribute can apply for funding at the IOTA Ecosystem development fund.

Thus, Ecosystem Fund and PoWBox combined will lead to new software (and use cases, of course) soon!

As always, I would be really happy about donations (you may also read my other articles):


Read the full Article

The full article was originally published by Chris Mueller on Medium, where people are continuing the conversation by highlighting and responding to this story.

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More

Did you know?

Buy in without the stress of trying to time the market

when you setup a savings plan. If you haven’t started a plan yet, head to your Bitpanda account to get started!

Purchasing cryptocurrencies comes with a number of risks.
Never invest money that you can't afford to lose.

You can automatically invest

in IOTA with Bitpanda Savings!